ACM Research (NASDAQ:ACMR) Rating Lowered to "Hold" at Needham & Company LLC

Needham & Company LLC lowered shares of ACM Research (NASDAQ:ACMR - Free Report) from a buy rating to a hold rating in a report published on Wednesday morning, MarketBeat reports. The brokerage currently has $25.00 price objective on the specialty retailer's stock.

Other equities research analysts have also recently issued reports about the stock. Benchmark reaffirmed a "buy" rating and set a $38.00 price target on shares of ACM Research in a research note on Wednesday, August 7th. Roth Mkm cut their price target on shares of ACM Research from $40.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, August 8th.

ACM Research Price Performance

NASDAQ ACMR traded up $0.37 during trading hours on Wednesday, reaching $16.57. The company's stock had a trading volume of 2,093,387 shares, compared to its average volume of 1,447,970. The stock has a market cap of $954.60 million, a PE ratio of 12.27 and a beta of 1.48. ACM Research has a fifty-two week low of $13.94 and a fifty-two week high of $34.40. The company's 50-day moving average is $19.19 and its two-hundred day moving average is $19.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37.

ACM Research (NASDAQ:ACMR - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.35. The firm had revenue of $204.00 million for the quarter, compared to analysts' expectations of $191.18 million. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The firm's revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. Analysts forecast that ACM Research will post 1.12 EPS for the current year.

Insider Activity

In other news, major shareholder Science & Technology Shanghai sold 26,300 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $20.01, for a total transaction of $526,263.00. Following the completion of the sale, the insider now owns 3,403,906 shares of the company's stock, valued at approximately $68,112,159.06. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Xiao Xing sold 700,000 shares of the firm's stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $21.41, for a total transaction of $14,987,000.00. Following the sale, the director now directly owns 2,703,906 shares of the company's stock, valued at $57,890,627.46. The trade was a 20.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,244,016 shares of company stock worth $26,939,953 over the last 90 days. Company insiders own 31.24% of the company's stock.

Institutional Investors Weigh In On ACM Research

A number of hedge funds have recently added to or reduced their stakes in the stock. Cim LLC lifted its stake in ACM Research by 8.6% in the second quarter. Cim LLC now owns 16,788 shares of the specialty retailer's stock valued at $387,000 after buying an additional 1,326 shares during the last quarter. Sei Investments Co. raised its stake in shares of ACM Research by 6.7% during the second quarter. Sei Investments Co. now owns 21,736 shares of the specialty retailer's stock valued at $501,000 after purchasing an additional 1,358 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of ACM Research by 7.6% during the second quarter. The Manufacturers Life Insurance Company now owns 19,454 shares of the specialty retailer's stock valued at $449,000 after purchasing an additional 1,382 shares in the last quarter. CWM LLC raised its stake in shares of ACM Research by 297.1% during the second quarter. CWM LLC now owns 1,930 shares of the specialty retailer's stock valued at $45,000 after purchasing an additional 1,444 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of ACM Research during the third quarter valued at about $37,000. 66.75% of the stock is currently owned by institutional investors.

ACM Research Company Profile

ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.